It was dangerous, they said, to say that women managers had to choose between career and family, while men could have both.

Ms. Williams said women's lack of interest in managerial jobs helped explain the lower percentage of women managers.

In fact, a "major part of the earnings gap is simply due to women managers being female."

Top men and women managers tend to be optimistic, though men more so than women.

"As such, it has been a helpful trend for women managers."

By the time he became chief executive in 1992, he says, droves of those women managers were leaving.

The firm has also found that women managers have more trouble finding jobs than men.

The new Commission's own objective is to double the number of women managers before the end of its term of office.

Watson notes that a "major part of the earnings gap is simply due to women managers being female."

To qualify, proposals must have found an untapped market niche, a high profit potential and have women managers.